IVD Market Overview 2022 to 2030, Future Trends and Forecast | CAGR 4.08%

In accordance with the IVD market is set to grow at a CAGR of 4.08% over a forecast period (2022-2030).

The growth can be attributed to the increasing adoption of IVDowing to the rise in testing due to the pandemic. The development of automated IVD systems for laboratories and hospitals to provide efficient, accurate, and error-free diagnoses is expected to fuel the market growth. The rising number of IVD (in vitro diagnostics) products being launched by key players is also fueling the growth of the market. IVD products with molecular diagnostic capabilities deliver effective and accurate results.

The rise in the geriatric population and growth in knowledge regarding early testing has led to a surge in the number of regular check-ups, as a majority of deaths due to infections and chronic conditions occur in the population aged over 75 years.

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The "IVD Market" Report includes qualitative and quantifiable insights into the major drivers, restraints, opportunities, and challenges affecting global market growth. The examination contains complete statistical market data on the major companies, as well as revenue forecasts. The IVD market study also includes information on the sales growth of many regional and country-level markets, as well as the competitive landscape and specific company analysis for the forecast period. The market report observes future growth aspects as well as the current status of market share, penetration of various types, technologies, applications, and geographies through 2030.

IVD Market Leading Players:

Hoffmann-La Roche Ltd (Switzerland), Abbott Laboratories (U.S.), Thermo Fisher Scientific Inc. (U.S.), Sysmex Corporation (Japan), Siemens Healthineers AG (Germany), BD (Becton, Dickinson, and Company) (U.S.), Seegene Inc. (Republic of Korea), DiaSorin S.p.A. (Italy), Quest Diagnostics Incorporated (U.S.), Bio-Rad Laboratories, Inc. (U.S.)

Recent Development:

In March 2021, F. Hoffmann-La Roche Ltd. signed a definitive merger agreement with GenMark Diagnostics Inc. This acquisition will help Roche access GenMark's novel technology to test for a broad range of pathogens with one patient sample.

In March 2021, F. Hoffmann-La Roche Ltd launched Cobas pure integrated solutions in countries accepting the CE mark. This new compact analyzer combines three technologies on a single platform helping to simplify operations in small to medium-sized labs.

This Research Considers the following Regions on Prime focus:

North America (U.S., Canada)

Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)

South America (Mexico, Brazil, Argentina, Columbia, Rest of South America)

Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

Regional Overview:

North America dominated the global market in 2021 and accounted for the largest share of more than 42.00% of the overall revenue. The region is estimated to retain its leading market position throughout the forecast period. The market in this region is collectively driven by the factors, such as the rising incidence of chronic diseases, rapidly growing geriatric population, high healthcare expenditure, and supportive government funding.

Global IVD Market Segmentation:

By type:

Instruments

Reagents & Consumables

By Technique:

Immunodiagnostics

Clinical Chemistry

Molecular Diagnostics

Hematology

Others

By Setting:

Laboratories

Point-of-care

By application:

Infectious Diseases

Cardiology

Oncology

Gastroenterology

Others

By End-user:

Clinical Laboratories

Hospitals

Physicians' Offices

Others

Year Considered Estimating the Market Size:

Historical Years: 2017-2021

Base Year: 2022

Estimated Year: 2022

Forecast Period: 2023-2030

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Report Aim and Scope:

An overview of the IVD market based on geographical scope, segmentation, and financial performance of key players is presented in the report.
The report presents the estimated IVD market size by the end of the forecast period. Additionally, the historical and current market size is also examined in the report.
Based on various indicators, the Year-on-Year Growth (%) and compound annual growth rate (CAGR) for the given forecast period are offered.
The report presents current trends in the industry and the future scope of the market in North America, Asia Pacific, Europe, Latin America, and Europe.
The various parameters accelerating the growth of the IVD market is incorporated in the research report.
The report analyzes the growth rate, market size, and valuation of the market during the forecast period.

Key Reasons to Purchase:

- To gain insightful analyses of the market and have a comprehensive understanding of the global market and its industrial landscape.

- To identify and analyze the profile of leading players operating in the global IVD market.

- To understand the most affecting driving and restraining forces in the market and their impact on the global market.

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